Finish Line Earnings Posts Solid Q1 Earnings and Guidance
Finish Line Inc. (NASDAQ: FINL) reported fiscal first-quarter financial results before the markets opened on Friday. The company said that it had $0.23 in earnings per share (EPS) on $453.5 million in revenue. There were consensus estimates from Thomson Reuters…
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Finish Line Inc. (NASDAQ: FINL) reported fiscal first-quarter financial results before the markets opened on Friday. The company said that it had $0.23 in earnings per share (EPS) on $453.5 million in revenue. There were consensus estimates from Thomson Reuters calling for $0.22 in EPS on $449.56 million in revenue. The same period from last year had $0.30 in EPS on $443.39 million in revenue.
During this quarter comparable store sales increased by 1.5%, while total net sales increased by about 2.3%.
The company repurchased 1 million shares in the first quarter, spending a total of $21.3 million. The company has 1.3 million shares remaining in its current share repurchase authorization.
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In terms of the outlook for the full fiscal year, the company expects comparable store sales to increase in the 3% to 5% range and earnings per share to be between $1.50 and $1.56. There are consensus estimates that are calling for $1.54 in EPS on $1.95 billion in revenue for the year.
On the books, cash and cash equivalents totaled $85.39 million at the end of the quarter compared to $82.19 million in the same period from last year.
Sam Sato, CEO of Finish Line, commented:
We delivered first quarter results that were in-line with expectations despite the challenging retail environment. Importantly, we’ve made further progress toward optimizing our supply chain and improving execution throughout the enterprise. We remain focused on successfully executing the strategic initiatives for our Finish Line, Macy’s, and JackRabbit businesses while creating an operating model that drives profitable growth and generates shareholder value consistently over the long-term.
Shares of Finish Line closed Thursday down 4% at $16.79, with a consensus analyst price target of $21.35 and a 52-week trading range of $15.37 to $29.05. Following the release of the earnings report, the stock was up 5.4% at $17.70 in early trading indications Friday.
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Chris Lange is a financial and geopolitical writer with more than a decade of experience covering a myriad of topics. He has published thousands of articles for 24/7 Wall St., with past coverage focused heavily on stocks, IPOs, healthcare, defense, global affairs, and technology.
His work has been quoted, or referenced by a number of outlets including Business Insider, USA Today, Yahoo Finance, MSN, The Motley Fool, and many other publications. A graduate of Southwestern University, he studied business with a focus on investments and has previous experience in banking and startups.
When not reading or writing the news, he is following his passion for Lacrosse, playing chess, or building solar projects with his dad.
